Trying to stay up-to-date with data privacy laws and regulations can be challenging. Still, with the right efforts, organizations can stay compliant and protect their data from hackers and cyber attacks. Cloud file encryption is one solution worth looking into because it offers key benefits for supply chain companies that want to protect their sensitive information.
No matter the size of your company or its industry, there’s a lot to gain from investing in cloud file encryption. Here are five reasons supply chain companies need to start using cloud file encryption.
1) Improved Data Security
With encryption, you get a higher level of security for your data as it’s transmitted from one point to another. It’s an extra safeguard against third parties’ unauthorized access and data tampering. Cloud file encryption protects sensitive information, such as accounting records, product data, and client information. Keeping sensitive information secure can also help prevent identity theft and other financial losses.
Anchor, creates a zero-knowledge cloud storage environment, which turns any cloud storage option, like OneDrive or Dropbox into a highly secure data layer. They automatically encrypt files before they are uploaded to the cloud provider and keep private keys to unlock the files within their own highly secure server.
2) Better Compliance
You can prevent regulatory headaches by using cloud file encryption. By embracing a cloud storage solution that includes encryption, you can ensure high data protection without investing in extra IT infrastructure.
The main benefit is that it reduces compliance risks and time spent on security updates. Also, suppose your business is subject to the EU-US Privacy Shield. In that case, taking advantage of cloud encryption is even more important because it provides your clients with higher personal data protection.
3) Improved Efficiency
Reliable cloud file encryption gives you access to more convenient storage options that help simplify your supply chain management processes. For example, you can easily access your cloud storage accounts from a single location. This makes it easier for everyone on your small- to large-scale supply chain to get the business intelligence they need to make timely decisions.
In addition, with cloud file encryption, you can easily access your files and share them as needed. This means you don’t have to worry about hosting your applications in the cloud, as you can manage your sensitive data from a single location.
4) Lower Costs and Better Return on Investment
Cloud file encryption helps to achieve a lower total cost of ownership (TCO) for cloud storage. For example, you could use your savings to set higher budgets for IT improvements or add a team of new employees who all need access to cloud storage. It’s estimated that encryption can help reduce your TCO by as much as 50 percent compared to conventional data storage solutions.
Cloud file security with Anchor virtually eliminates the threat of data loss with its multi-factor access controls. The lower costs and improved efficiency mean you can more easily maintain your competitive edge in the market.
5) Sustainability
Cloud file encryption reduces the physical infrastructure you need to support your business needs. For example, you don’t have to store your sensitive information on-site to use cloud storage. This means your data is more easily accessible and less vulnerable to theft.
Cloud encryption also helps you reduce fuel costs, as it reduces the bandwidth you need to run your cloud storage applications. Cloud file encryption helps reduce energy costs while providing an eco-friendly solution.
About Cloud File Encryption
Regarding data privacy, sales, marketing and other departments within your supply chain need the right information to do their job. Cloud file encryption can help improve productivity by securing key business data conveniently and centrally.
For example, you can keep your accounting records privately encrypted in a secure cloud storage account while ensuring they’re accessible to employees who need them the most. You get an added layer of protection against insider threats. This means you can take a more proactive approach to safeguard sensitive data by putting a higher level of encryption on your files before they leave the office.
Your supply chain can go from average to extraordinary with the right tools and technology. If you’re interested in learning more for your supply chain, contact an Anchor representative to learn more about how it can help your company. If your organization is looking for other ways to improve its efficiency, data security, and compliance levels, consider getting started with a cloud storage platform like Anchor.